Global Construction Chemicals Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Construction Chemicals Market was worth US$ 35,764.0 Mn and is expected to grow at a CAGR of 7.4% over the forecast period. While the historical CAGR is 5.8%, the market is expected to hit US$ 73,027.9 Mn by 2032 end.
Construction activities involve the use of specialized chemical compounds known as construction chemicals. These substances are added to building materials, including cement, concrete, coatings, and others, accelerating construction work, providing great strength and durability, and providing additional protection from environmental threats.
Major applications of construction chemicals include improving concrete performance and reducing the need for water and cement during construction activities.
ChemView Consulting has analyzed that the main drivers of adopting construction chemicals, particularly for building activities, are the growing awareness of the environmental risks posed by conventional buildings and changes in government legislation worldwide.
Environmentally friendly and sustainable products for cool roof treatments, thermal insulation, overall building protection, polycarboxylate ether-based green admixtures, and underground structure protection are priorities for major construction chemical industry players.
The building chemicals industry is developing a wide range of solutions, such as small changes to conventional materials and the development of new material assemblages, to emphasize multifunctional properties and significantly support unique materials with a variety of uses.
AWARENESS REGARDING GREEN CONSTRUCTION SIGNIFICANTLY IMPACTS THE MARKET
The main drivers of the adoption of construction chemicals, particularly for building activities, are the growing awareness of the environmental risks posed by conventional buildings and changes in government legislation worldwide. Major participants in the building sector are concentrating on green and sustainable materials for underground structure protection, polycarboxylate ether-based green admixtures, thermal insulation, overall building protection, cool roof treatments, and other topics essential for sustainability.
GOVERNMENTAL REGULATIONS IS HAMPERING THE MARKET GROWTH
Construction activities involve using chemicals that could produce dangerous VOCs, resulting in widespread health issues such as skin irritation, asthma, nausea, dizziness, migraines, and eye irritation. Harmful VOCs like formaldehyde, acetone, and butanol are released through solid wood, caulking sealant, floor wax, and many construction chemicals used in residential construction. Government rules prohibiting excessive use of construction chemicals because of VOC emissions are barriers to the market’s expansion.
Market Segments Covered in Report
By Region and Country:
Why do Concrete Admixtures expect to dominate the global mark during the projection period?
In construction, cement is frequently employed as a binding agent. Concrete is made by mixing cement in measured amounts with sand, water, and crushed rock. The addition of concrete admixtures then enhances the characteristics of concrete. They offer advantages, including a low cement water ratio, accelerated setting time, reduced segregation, and increased permeability.
The rising utilization of concrete admixtures, which is driving the expansion of the construction chemicals market, is a result of the expanding building industries in China, India, the United Kingdom, and Germany.
Why is it anticipated that Residential Segment would be the most popular and rapidly expanding application?
The residential market is incredibly fragmented, and rising urbanization has led many consumers to move into metropolitan areas. This market’s expansion is anticipated fuelled by shifting lifestyles, fast urbanization, rising living standards, and a rising desire for attractive residential constructions.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
To meet changing consumer demand, manufacturers of construction chemicals prioritize increasing production capacity. Construction chemical market trends are predicted to be influenced by portfolio expansion and divestment plans over the anticipated time period.
The leading companies in this space mostly employ acquisition and growth strategies to boost their market share in the construction chemicals industry.
The key developments in the Global Construction Chemicals Market are:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 7.4%.
The main drivers of the adoption of construction chemicals, particularly for building activities, are the growing awareness of the environmental risks posed by conventional buildings and changes in government legislation worldwide.
Key Global Construction Chemicals Market players are BuildCore Chemicals, Croda International Plc, ACC Limited, Evonik, BASF SE, Fosroc, Inc., and CHRYSO.
Construction activities involve using chemicals that could produce dangerous VOCs, resulting in widespread health issues such as skin irritation, asthma, nausea, dizziness, migraines, and eye irritation.
Asia Pacific Region is expected to account for the largest market revenue share in the Global Construction Chemicals Market.
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